Find Properties

News


Prime Office Space Is Still In Demand

Prime Office Space Is Still In Demand

There is still a high demand for premium office space in South Africa, despite the weak economic conditions and uncertain political waters. The past few months has seen various blue chip South African businesses and multinationals move into new and premium grade offices, while others have moved into pre-booked spaces in developments that are still under construction.

Premium grade offices, according to the South African Property Owners Association’s (SAPOA) official definition, is a “top quality, modern space, which is generally a pace setting in establishing rentals”. While the demand for offices isn’t as strong as it was a year ago, at the top end there is still a great demand from top multinationals and South African businesses for premium office space.

Things that impact tenants’ decisions as to where to rent offices include the address, in terms of centrality and ease of access to major economic attractions such as the city’s airport and public transport networks for staff. Another important aspect is whether the premium grade offices are able to provide their companies with the look and feel they are after.

Government Remains A Key Partner To South Africa’s Thriving Property Sector

At the same time, government’s responsibility and impact in South Africa’s property market can’t be underestimated. SAPOA sees this as a key issue, and acknowledges the mutually beneficial partnerships that a joint working relationship with government can offer during challenging economic times.

With government and the property sector working together efficiently and effectively, the property sector at large will be able to start progressing and evolving to compete on a global scale. By making cities and how they are government the heart of the national economic growth debate, cities can become “ideas centres” and be the catalyst needed for design and innovation in the property sector, driving an even greater demand in the sector despite tough economic conditions.

Image courtesy of : BusinessTech

Article Comments

Featured Properties

Office Space For Sale At Glenhove Square | 71 4th Str...
71 4th Street, Houghton ,
Parktown and Houghton,
Johannesburg Northern Suburbs,
Gauteng
350m2 at R26250/m2
Office Building To Rent In Sandton | SMG House | 108 ...
108 Johan Avenue | Dennehof ,
Sandton,
Johannesburg Northern Suburbs,
Gauteng
3501m2 at R0/m2
82 Maude | 82 Maude Street | Leasing Office Space | S...
82 Maude Street, Sandton ,
Sandton,
Johannesburg Northern Suburbs,
Gauteng
1271m2 at R125/m2
Office To Lease | The Ambridge Office Park | 28 Vrede...
28 Vrede Road |Douglasdale |Brya...,
Bryanston,
Johannesburg Northern Suburbs,
Gauteng
181m2 at R110/m2
Office Space To Let | Firestation Office Park | Roseb...
Baker Street ,
Rosebank, Melrose and Dunkeld ,
Johannesburg Northern Suburbs,
Gauteng
400m2 at R210/m2
10 Fricker Road | Office Space To Let | Illovo
10 Fricker Road ,
Illovo, Atholl and Waverley,
Johannesburg Northern Suburbs,
Gauteng
10749m2 at R151/m2
Epsom Downs Office Park | Bryanston | Office Space To...
13 Sloane Street ,
Bryanston,
Johannesburg Northern Suburbs,
Gauteng
392.77m2 at R110/m2
Home Properties Contact Us Search